Short Interest in Direxion Daily AMZN Bear 1X Shares (NASDAQ:AMZD) Expands By 59.0%

Direxion Daily AMZN Bear 1X Shares (NASDAQ:AMZD) was the target of a significant increase in short interest during the month of August. As of August 31st, there was short interest totaling 19,400 shares, an increase of 59.0% from the August 15th total of 12,200 shares. Based on an average daily volume of 406,500 shares, the days-to-cover ratio is presently 0.0 days. Approximately 3.0% of the company’s shares are short sold. Approximately 3.0% of the company’s shares are short sold. Based on an average daily volume of 406,500 shares, the days-to-cover ratio is presently 0.0 days.

Direxion Daily AMZN Bear 1X Shares Stock Performance

Shares of Direxion Daily AMZN Bear 1X Shares stock opened at $10.48 on Monday. Direxion Daily AMZN Bear 1X Shares has a 12 month low of $10.01 and a 12 month high of $15.25. The stock’s fifty day moving average price is $10.57 and its 200-day moving average price is $11.74.

Direxion Daily AMZN Bear 1X Shares Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 24th were paid a dividend of $0.0676 per share. The ex-dividend date was Tuesday, June 24th. This represents a $0.27 annualized dividend and a dividend yield of 2.6%.

Hedge Funds Weigh In On Direxion Daily AMZN Bear 1X Shares

Institutional investors have recently made changes to their positions in the company. Flow Traders U.S. LLC purchased a new position in shares of Direxion Daily AMZN Bear 1X Shares during the second quarter valued at $119,000. Tower Research Capital LLC TRC purchased a new position in Direxion Daily AMZN Bear 1X Shares in the second quarter valued at about $164,000. Jane Street Group LLC purchased a new position in Direxion Daily AMZN Bear 1X Shares in the fourth quarter valued at about $243,000. Finally, Advisory Services Network LLC purchased a new position in Direxion Daily AMZN Bear 1X Shares in the second quarter valued at about $747,000.

About Direxion Daily AMZN Bear 1X Shares

The Direxion Daily AMZN Bear 1X Shares ETF (AMZD) is an exchange-traded fund that is based on the Amazon.com, Inc index. The fund provides inverse (-1x) exposure, less fees and expenses, to the daily price movement for shares of Amazon stock. AMZD was launched on Sep 7, 2022 and is managed by Direxion.